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316 Greenbriar Drive Matthews, NC 28104

3 Beds 2 Baths 1,337 sqft Built 1976

$253,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1976
  • Price/Sqft : $189.23
  • 7 Days on Market
  • MLS # : 3693769
  • Updated Date : 12/28/2020 at 12:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,337 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage Llc

Listing Agent's Description

This Matthews one-story cul-de-sac home offers a one-car garage. This home is vacant and cleaned regularly.

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MARKET HIGHLIGHTS

  • Corporate Fortune 500 headquarters: Bank of America, Lowe’s, Duke Energy, Nucor, Family Dollar Stores, Sonic Automotive, Domtar
  • #3 fastest-growing big city in US with more than 15,000 people added in 2017 (US Census, 2018)
  • Charlotte metro has 65.8% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)
  • Charlotte attracted more than $325 million in capital investments in 2018Q2 (Meckelenburg county, June 2018)
  • Charlotte metro's economy is worth $181 billion in Gross Metro Product and projected to grow to $192 billion in 2019 (USMayors.org, 2018)
  • #1 Millenial Moving destination city (Smart Asset)

PRICE & RENT TRENDS

Neighborhood: Stallings

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $118k318k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Stallings

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800Rent in $8441809

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Stallings Elementary School Primary Regular 576 32 9
Sun Valley Middle School Middle Regular 1,365 69 6
Sun Valley High School High Regular 1,306 76 7

Stallings Elementary School

  • Education Level: Primary
  • # of students: 576
  • # of teachers: 32
9
GreatSchools Rating

Sun Valley Middle School

  • Education Level: Middle
  • # of students: 1,365
  • # of teachers: 69
6
GreatSchools Rating

Sun Valley High School

  • Education Level: High
  • # of students: 1,306
  • # of teachers: 76
7
GreatSchools Rating
 

$227,700$278,300$253,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$933
Property Tax -$168
Property Insurance -$52
Property Management Fees -$119
CASH FLOW
$47

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$253,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.48%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.31%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,795

INVESTMENT

$72,795

Down Payment
$63,250
Rehab Estimate
$5,750
Closing Costs
$3,795

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$933

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,250
Loan Amount $189,750
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$24,949

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,320

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,317

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,320
1$1,3202$1,3953$1,5004$1,5505$1,595
$1,595
RENT COMPS ANALYSIS
  • 316 Greenbriar Drive Matthews, NC 1
    • 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1976
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.99
    •  
  • 1216 Stallings Road Matthews, NC 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1970
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
  • 725 Catawba Circle N Matthews, NC 3
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 2720 Briar Trail Court Matthews, NC 4
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1991
    LEASED 08/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.16
    •  
  • 1205 Driftway Point Matthews, NC 5
    • 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,595 Sqft ∙ Built 1992
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.00
    •  
PROPERTY LISTING DETAILS
Verria Hairston
1.704.751.0133
Opendoor Brokerage Llc
BESbswy